Sanctions Analyst

Requisition Details & Talent Acquisition Contact

REQ: 138739

Talent Acquisition Consultant: Lerato Sithole

Location: 135 Rivonia Road, Nedbank Head Office, Sandton

Job Family

Risk, Audit and Compliance

Career Stream

Regulatory Compliance

Leadership Pipeline

Manage Self: Professional (MSP)

Job Purpose

• To assess, enhance and implement sanctions risk management, internal list management, internal reporting to the applicable governance forums, stakeholder engagement and management, efficiencies in processes, systems and controls and to execute on deliverables assigned to the area to ensure local and international regulatory standards across the Nedbank Group and the Nedbank Subsidiaries are met.

Job Responsibilities

• Assess associated ML, TF, PF and sanctions risks, specifically sanctions and internal list risk management requirements to identify the impact on Nedbank, ensuring that risks are mitigated within service level agreements and timelines. 
• Identify the likelihood and probability of a breach of regulatory requirements, internal requirements, contractual obligations, confiscations and reputational damage as a result of undertakings, a regulatory risk penalty being imposed, criminal liability and/or administrative sanction, through analysis of agreed standards for sanctions and internal list risk management.
• Provide advice and make decisions in respect of transactional sanctions alerts through assessment of sanctions and internal list risk management requirements, engagements and/or written communication with stakeholders. 
• Provide subject matter expertise on sanctions and internal risk management and actively provide consultative support to stakeholders. 
• Provide sanctions advice on all issues escalated by considering sanctions and internal risks.
• Engage with stakeholders to provide clarification, advice, guidance and assistance related to best practices, sanctions and internal risk management requirements. 
• Identify relevant stakeholders by assessing applicability of impact of sanctions and internal risk management and the dissemination of sanctions breaches. 
• Engage with stakeholders to ensure sanctions and internal risks and screening are adequately addressed. 
• Maintain relationships with relevant stakeholders through formal and informal interaction to assist in the implementation of sanctions and internal risk management requirements. 
• Liaise with stakeholders to clarify discrepancies and provide input and feedback based on best practice and sanctions and internal risk management requirements. 
• Interact with stakeholders to build and maintain mutually beneficial relationships and to facilitate alignment of sanctions and internal risk management requirements and consideration of best practice.
• Assess potential sanctions and internal risks associated with sanctions requirements through analysis and investigation of transactional alerts, business relationships and activities.
• Interpret and apply sanctions and internal risk management requirements through analysis of agreed standards for implementation across Nedbank Group. 
• Approve or decline escalated exceptions or violations based on sound sanctions and internal risk management.
• Approve or decline escalated exceptions or violations within agreed timelines and take corrective action, where necessary. 
• Refer and/or report identified transactions for regulatory reporting to relevant stakeholders for further consideration.  
• Reporting pertinent information to the relevant governance forums
• Facilitate understanding of implementation and interpretation of best practice and sanctions and internal risk management requirements by drafting documentation for communication to stakeholders. 
• Assessing and analysing trends through management information and/or sanctions environment to provide input into internal controls through exposure from implementation of sanctions requirements. 
• Investigate all instances of confiscated funds to determine the root cause of the confiscation and consider for any additional controls. 
• Provide guidance to stakeholders on license applications for recovery of confiscated funds.
• Assess sanctions to identify the impact both from a transactional and client perspective.
• Consistently identify efficiencies to enhance processes, systems and controls. 
• Ensure consistent monitoring and progress on deliverables 

Essential Qualifications - NQF Level

Preferred Qualification

• BA Law and/or BComm

Minimum Experience Level

• 2 - 3 years’ experience in sanctions risk management.

Technical/ Professional Knowledge

• Change management
• Cluster specific operations
• Compliance reporting
• Governance, Risk and Controls
• Relevant regulatory knowledge
• Relevant software and systems knowledge
• Reputational risk management
• Risk management process and frameworks
• Stakeholder management
• Codes of Good Governance

Behavioural Competencies

Disclaimer

Preference will be given to candidates from the underrepresented groups

Please contact the Nedbank Recruiting Team at +27 860 555 566